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Sumitomo Chemical 100 Years Sumitomo Chemical 100 Years Published: August 2014 Published by Sumitomo Chemical Co.,Ltd

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Sumitomo Chemical 100 Years Sumitomo Chemical 100 Years Published: August 2014 Published by Sumitomo Chemical Co.,Ltd Sumitomo Chemical 100 Years Sumitomo Chemical 100 Years Published: August 2014 Published by Sumitomo Chemical Co.,Ltd. Production and editing : Sumitomo Chemical Co.,Ltd., Corporate History Editorial Office 27-1, Shinkawa 2-chome, Chuo-ku, Tokyo, Japan Production assisted by Dai Nippon Printing Co.,Ltd. Printed in Japan by Dai Nippon Printing Co.,Ltd. CONTENTS Chairman’s Message President’s Message The Path to a Global Chemical Company 1. The History of Sumitomo 8 2. History of Sumitomo Fertilizer Works 10 3. Going from a Fertilizer Manufacturer to a Chemical Company 14 4. Moving into Fine Chemicals 16 5. Post-war Recovery 18 6. Moving into the Agricultural Chemicals Business 20 7. Growth of the Pharmaceuticals Sector 22 8. Entering the Field of Petrochemicals 24 9. Dealing with the Oil Crises 26 10. Rise and Decline of Aluminum Business 28 11. Construction of Singapore Petrochemical Complex 32 12. Separation of Pharmaceutical Business from Sumitomo Chemical and Inauguration 34 of Dainippon Sumitomo Pharma Co., Ltd. 13. Expansion of Agricultural Chemicals Business 36 14. IT-related Chemicals Sector Established and Business Grows 38 15. Progress of the Rabigh Project 40 16. Aiming to be a Truly Global Chemical Company 42 17. For a Better Tomorrow 46 Reports from Regional Headquarters 48 Report from Beijing by Sumitomo Chemical (China) Co., Ltd. 48 Report from Singapore by Sumitomo Chemical (Asia Pacific) Pte Ltd 50 Report from Brussels by Sumitomo Chemical Europe S.A./N.V. 52 Report from New York by Sumitomo Chemical America, Inc. 54 The Sumitomo Spirit and Sumitomo Chemical’s Business Philosophy 56 Recent Sales and Profits 57 Sumitomo Chemical Locations in Japan 58 Major Companies of Sumitomo Chemical Group: Japan 59 Major Companies of Sumitomo Chemical Group: International 60 Chronology of Sumitomo Chemical 62 Chairman’s Message In October 2015, Sumitomo Chemical will cele- triggered by the fall of Lehman Brothers and the sub- brate its 100 year anniversary. sequent global recession. Even in the face of these As a member of the Sumitomo Group, which has challenges, however, we have driven innovation to a history and tradition dating back 400 years, we create new opportunities for growth and carried out a have carried on Sumitomo’s business philosophy, series of strategic initiatives to build a strong founda- which gives priority to maintaining society’s trust while tion for future growth—the expansion of our agricul- emphasizing that our business must not only ben- tural chemicals business overseas, the strengthening efit our own interests but also society at large. This of our pharmaceutical business, the establishment of philosophy is, in fact, firmly embedded in Sumitomo the IT-related Chemicals Sector, our Singapore pet- Chemical’s DNA. The company began as a fertiliz- rochemical project, and the Rabigh Project in Saudi er manufacturing plant of the House of Sumitomo, Arabia. to transform harmful sulfur dioxide emissions from Sumitomo Chemical will remain firmly committed smelting operations at the Besshi Copper Mine into to contributing, through innovation, to solving a range calcium superphosphate fertilizers. In other words, it of challenges facing society, and will continue to strive was established not merely for financial gain, but to to achieve strong and sustained growth by reinvent- contribute to the nation and society by providing a ing itself to meet the evolving needs of the times. solution to an environmental problem and helping to I sincerely hope that you will learn from Sumitomo increase agricultural production. Chemical’s 100 year history and take action to bring Sumitomo’s business philosophy also stresses about change, driving the company’s dynamic growth that we should keep a close watch on the changing of into its second century. the times, carefully weighing opportunities and risks, August 2014 and seeking long-term sustainable growth, rather than chasing short-term gains. Over the past one hundred years, Sumitomo Chemical has put this principle into practice, striving to achieve growth by meeting the needs of the times and continuously developing innovative new technologies. Along the way, we have encountered enormous upheavals, including World War II and its aftermath, the two oil crises of the 1970s, the end of the Cold War, recessions caused by the overvalued yen, the bubble economy of the late 1980s and its collapse, and the financial crisis Osamu Ishitobi Chairman & CEO Sumitomo Chemical Co., Ltd. President’s Message Next year will be the 100th anniversary since global challenges, such as issues relating to the envi- Sumitomo Chemical started its operation as a fertilizer ronment, natural resources, energy, and food supply. manufacturing plant of the House of Sumitomo, ship- The Sumitomo Chemical Group will continue to pro- ping out the first lot of calcium superphosphate fertil- vide effective solutions to these challenges by draw- izer from Niihama, Japan, on October 4, 1915. ing on the power of chemistry, and to contribute to In its early years, Sumitomo Chemical worked to building better lives by developing various businesses expand its business into the manufacturing of ammo- that meet the evolving needs of the times and by con- nia and other industrial chemicals, as well as alumi- tinuously delivering technological innovation. num, to make its way into the modern chemical indus- This booklet is to commemorate our upcoming try. In the 1950s, Sumitomo Chemical moved into the 100th anniversary and to help share the company’s petrochemical business well before its competitors, history with all members of the Sumitomo Chemical and enhanced its fine chemical businesses, thereby Group around the world. Let us take a look back at becoming a full-fledged diversified chemical com- the path that has brought us here and move forward pany. From then on, we have been pressing ahead together in unity to make our next century a brilliant with the globalization of our businesses in the areas one. of petrochemicals, ICT-related materials, agricultural August 2014 chemicals and pharmaceuticals. The very reason that Sumitomo Chemical has been able to achieve growth over nearly one hun- dred years, surviving hard times along the way, is because the people at this company have boldly and unflinchingly carried out business restructuring and other major change initiatives to meet the needs of the times. This history is a great source of confidence and pride for me. Times are changing more rapidly and more significantly. I would like each of you at the Sumitomo Chemical Group to continue to demon- strate a can-do spirit, take on new challenges, and explore new paths to achieve strong and sustained growth. In particular, the chemical industry is being called upon to take an even greater role in solving pressing Masakazu Tokura President & COO Sumitomo Chemical Co., Ltd. The Path to a Global Chemical Company Sumitomo Chemical was established in 1913 as a fertilizer plant under direct management of Sumitomo General Head Office and commenced business in 1915. Thus Sumitomo Chemical is looking forward to its 100th anniversary in 2015. When production of fertilizer (calcium superphosphate) began at the end of 1915, there were only 158 employees. As of the end of March 2014, Sumitomo Chemical has grown to become a leading chemical company in the world, with affiliates in 33 countries, 164 consolidated subsidiaries and more than 30,000 employees. Looking back at the hundred-year history of this global chemical company, we can divide it into three thirty-year periods plus the most recent decade. Building the foundation of a chemical Diversifying into petrochemicals and company fine chemicals The thirty years following the start of business During the next thirty years, Sumitomo Chemical was the age of “building the foundation of a chem- entered the fields of petrochemicals and fine chemi- ical manufacturer.” Sumitomo Fertilizer Works was cals. In 1944, Sumitomo Chemical merged with Japan founded to prevent pollution caused by sulfur dioxide Dyestuff Manufacturing Company (JDMC) and entered gas emissions from copper smelting. Its first prod- the field of fine chemicals. Pynamin, a household ucts were sulfuric acid and calcium superphosphate. insecticide, was launched in 1953, the first step into Introduction and development of new technology led the field of agricultural chemicals. Then, in 1958, an to the production of ammonia, nitric acid, methanol, ethylene plant was completed in Ehime Prefecture, formalin, and other industrial chemicals, forming a and Sumitomo Chemical began its petrochemical diverse product range and the foundation for a chemi- business. A large ethylene plant in Chiba Prefecture cal manufacturer. was built in 1965, and business expanded in tandem with the era of rapid growth of the Japanese economy. View of the ammonia plant (Ehime) Night view of the ethylene plant (Chiba) Fertilizer transport ship Actively promoting global business Becoming a truly global chemical company During the thirty years beginning in the 1970s, The last decade was characterized by the pro- Sumitomo Chemical entered the age of global expan- motion of globally integrated management. Mega- sion. These years brought dramatic change due to a competition has accelerated since the turn of the series of external factors: major oil crises, recession century, and in FY 2004 (ended March 31, 2005), due to overvaluation of the yen, and the burst of the Sumitomo Chemical set forth as a goal “becoming economic bubble. Sumitomo Chemical has continued a truly global chemical company” in the Corporate to undertake reforms to keep in step with shifts in the Business Plan FY 2004-2006. In keeping with this global economy and society: restructuring its busi- goal, Sumitomo Chemical has become involved with nesses by leaving fields that prove unprofitable, mov- the Rabigh Project, expanded its IT-related Chemicals ing into the petrochemical business in Singapore and Sector, and promoted globalization of the Sumitomo expanding overseas enterprises in specialty chemical Chemical Group as a whole.
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